Instinet Adds to Equity Block Trade Product

Scheduled to launch Wednesday, IDX is designed to
give institutional investors the opportunity to
anonymously and cost efficiently trade large blocks of
U.S. stock, or illiquid U.S. securities, without human
intervention and without an effect on price, the company
said in a news release.

“Institutional investors have told us for years that
they have had
difficulty finding the large pools of liquidity that make
block trading cost efficient. We believe that our
comprehensive block solution can deliver this liquidity and
help institutions realize the benefits of trading large
size anonymously,” Mike Plunkett, President, North America,
Instinet, LLC, said in the statement.

Instinet’s block trading services bring together a range of
institutional participants from around the world, including
mutual funds, hedge funds, plan sponsors and other
institutions. The new offering is based on Instinet’s
proprietary technology platforms, such as Newport.